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<a target="_blank" href="/news"><img src="/images/stories/2012/10/1point3m.gif"></a>
The <a target="_blank" href="/news">price Socceroo Jason Culina and his wife, Terri, spent to buy a colonial mansion</a> at Ingleburn in Sydney's western suburbs. It's one of NSW's most significant colonial palladian houses, Denham Court, and was built by Captain Richard Brooks, the enterprising sailor who settled at the Ingleburn holding in 1820.
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/perth-and-brisbane-heading-into-property-market-upswing-louis-christopher/2012100857033"><img src="/images/stories/2012/10/630.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/perth-and-brisbane-heading-into-property-market-upswing-louis-christopher/2012100857033">time on the "property clock" for Perth houses and units</a>, according to SQM Research director Louis Christopher. This indicates the market has just bottomed out and heading into an upswing.
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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/geoff-cousins-seeks-%2413-million-plus-whale-beach-buyers/2012100857046"><img src="/images/stories/2012/10/13mplus.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/geoff-cousins-seeks-%2413-million-plus-whale-beach-buyers/2012100857046"> price hopes Geoff Cousins</a>, the adman-turned-environmental activist and author, has for his six bedroom beach house at Whale Beach. Named ‘The Wedge’, after the famous surf beach break at the northern corner of Whale Beach, the home occupies nearly 1,440 square metres.
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/340k.gif"></a>
The price, exclusive of GST, an investor has paid at auction for a two-level brick retail building on three titles on <a target="_blank" href="/news">Ryrie Street</a>, a Geelong café and speciality retail strip surrounded by medical and professional services premises. The investor, who hails from Rosebud on the Mornington Peninsula, will acquire some of the property via his self-managed super fund.
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/2point4m.gif"></a>
The price of the most expensive property sold this week. The<a target="_blank" href="/news"> four-bedroom McMahons Point house</a> sold significantly above its expectations, having been listed in mid-September with a price guide over $1.9 million.
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/spring-brings-a-40-increase-in-property-on-the-market-in-prahran-hockingstuart/2012101057082"><img src="/images/stories/2012/10/40percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/spring-brings-a-40-increase-in-property-on-the-market-in-prahran-hockingstuart/2012101057082">increase in stock on market in Prahran</a> from winter to spring, according to hockingstuart. "September was busy, but October will be hectic," says the agency's Andrew James.
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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/sydney-s-surry-hills-ranked-23rd-most-stylish-neighbourhood-in-the-world/2012101157094"><img src="/images/stories/2012/10/23.gif"></a>
The ranking of <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/sydney-s-surry-hills-ranked-23rd-most-stylish-neighbourhood-in-the-world/2012101157094">Surry Hills, Sydney, on Complex magazine's list </a>of the most stylish neighbourhoods in the world. “Crown Street, the heart of the neighbourhood, is where you'll find all of the restaurants, bars, and coffee shops,” author Julian Kimble writes.
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The 7 must-know numbers of the week, starting with Socceroo Jason Culina's Ingleburn purchase price

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3/2 Wallaringa Avenue, Neutral Bay, NSW, 2089 <img src="/images/stories/2012/10/wallaringa.jpg" width="470">
In a pet-friendly block of six, this light and airy one-bedroom apartment has 42 square metres of internal space. It includes off-street parking and attic storage space. The unit is currently tenanted at $455 a week until March 2013. The property is within walking distance of ferries, bus services and Neutral Bay shops. 
Ray White agents James Kuziow and Mary Curran<a href="https://www.raywhite.com/nsw/neutral-bay/851180/" target="_blank"> are marketing the property</a><a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $450,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.3% at its current rent,  above the gross rental yield for Neutral Bay units of 4.5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The median unit price in Neutral Bay rose 2.9% in the past year and 24.7% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Neutral Bay, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 5.3% in Neutral Bay

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For the everyday consumer, spring begins in September. For the property market, it also technically starts in September, but as a real estate agent our activity actually ramps up much earlier. We’re preparing for the season as early as June, and come July we know whether spring will be busy by the number of upcoming listings in our books.
So it came as no surprise to see a 40% increase in our stock this season from winter – September was busy, but October will be hectic. Our clearance rate is at 81%, and properties are selling quickly, with average days on market sitting at just 24 days.
Prahran has weathered the storm quite well compared with other Melbourne suburbs, a good reminder that the property market is actually made up of multiple “sub-markets”. While sales activity has certainly picked up for us since winter, in general our levels all year round have remained consistent, with auctions remaining popular and clearance rates hovering around 80%. In fact, according to RP Data’s top 100 growth suburbs nationwide, Prahran topped the list in Melbourne.
Why? Our popularity comes down to one factor – affordability. It’s one of the few inner-city suburbs where you can still pick up a period home located close to shops, restaurants and public transport for under $1 million. Add multiple interest rate cuts to the table and there’s never been a better time for young couples to buy into a lifestyle location and still set themselves up for a family. We’re expecting a lot of interest at this weekend’s auctions for <a target="_blank" href="https://www.hockingstuart.com.au/?autoSearch=1&amp;OID=4456523&amp;Con=S">1 Chatsworth Road</a> and <a target="_blank" href="https://www.hockingstuart.com.au/?autoSearch=1&amp;OID=4424173&amp;Con=S">82 Bendigo Street</a>, with Chatsworth priced within a $700,000 to $750,000 range and $760,000 to $830,000 for Bendigo. The properties at <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/VIC/Prahran/?adid=2010038374">82 Hornby Street</a> and <a target="_blank" href="https://www.realestate.com.au/property-house-vic-prahran-111773603">9B Percy Street</a> will also fare well because of their proximity to the Chapel Street precinct.
 
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Having said that, over the past month we’ve also noticed an influx of buyers return to the sub-$1 million market, and demand is back for Edwardian and Victorian-style homes. Again, these buyers – particularly those with double-income and no kids – are driven by affordability and see the opportunity to jump into a stable market before prices start increasing again.
From a seller’s point of view, an interesting trend we’ve picked up is a growing investment in online advertising. Ten years ago, advertising was dominated by brochures, property boards and print. Today, while traditional methods are still present and will continue to play a crucial part in selling houses, the focus is shifting to online. This is reflective of the new generation of buyers who are online savvy, with the majority using the internet as one of their main tools to look for property – sellers are following suit. However, no two properties are the same, and in the same way that prices vary depending on the property, the same rule applies to advertising. There will be properties that sell better online, some better in print, but often the most effective advertising campaigns use multiple touch points.
Looking ahead, we expect the market in Prahran to remain strong. Further interest rate cuts will help drive confidence, but growth in house prices will be gradual – we’re not going to see the price hikes we saw in the years leading up to 2010. However don’t forget the Melbourne real estate market is made up of multiple sub-markets, so it will be a different case for each suburb – where one area might be seeing rapid growth, another might be depreciating in value. Prahran will fare well because of its affordability, prime location and amenities, but it won’t necessarily be the same for the next suburb. Statewide, the market is still finding its feet so there’s great value for buyers ready to take the plunge now – as long as you do your due diligence on the area.
Andrew James has more than a 20 years’ experience in real estate and is director of <a target="_blank" href="https://www.hockingstuart.com.au/">hockingstuart </a>Armadale.
What do you think spring holds for the property market? <a href="http://propertyobserver.com.au/ebooks/the-spring-property-outlook-survey" target="_blank">Complete our five-minute survey for your chance to win an iPhone 5.</a>
For more on auctions and the spring selling season, <a href="http://propertyobserver.com.au/ebooks/free-ebook-auction-or-private-treaty-plus-9-spring-2012-selling-tips" target="_blank">download our free eBook.</a>
 
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Spring brings a 40% increase in property on the market in Prahran: Hockingstuart

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A four-bedroom McMahons Point house is this week's top sale, according to RP Data, although it sold for just $2.4 million.
It sold significantly above its expectations, having been listed in mid-September with a price guide over $1.9 million. 
Selling agent Annika Robins of McGrath says there were 12 bidders at the auction, pushing the price well over its $2 million reserve. It was a deceased estate sale and was the first time the house had ever been on the market.
The property has expansive views over Berry Bay to Balls Head.
Eight of the top 10 sales of the week are in NSW, with two in Victoria.
1. <a href="https://www.myrp.com.au/n/5-commodore-crescent-mcmahons-point-nsw-2060/myrp-490?propertyId=4167447" target="_blank">5 Commodore Crescent, McMahons Point, NSW, 2060</a>, four-bedroom house, sold at auction on October 6 by McGrath Estate Agents for $2.4 million
2. <a href="https://www.myrp.com.au/n/87-culver-street-monterey-nsw-2217/myrp-490?propertyId=4399319" target="_blank">87 Culver Street, Monterey, NSW, 2217</a>, five-bedroom house, sold at auction on October 6 by Raine &amp; Horne Sans Souci for $1.81 million
3. <a href="https://www.myrp.com.au/n/24-thoresby-grove-ivanhoe-vic-3079/myrp-490?propertyId=11299599" target="_blank">24 Thoresby Grove, Ivanhoe, VIC, 3079</a>, four-bedroom house, sold at auction on October 6 by Miles Real Estate for $1.605 million
4. <a href="https://www.myrp.com.au/n/80-sunnybrook-drive-wheelers-hill-vic-3150/myrp-490?propertyId=13808159" target="_blank">80 Sunnybrook Drive, Wheelers Hill, VIC, 3150</a>, three-bedroom house, sold at auction on October 6 by Ray White Real Estate Glen Waverley for $1.54 million
5. 6 Roma Street, North Epping, NSW, 2121, four-bedroom house, sold prior to auction on October 6 by McGrath Estate Agents for $1.5 million
6. <a href="https://www.myrp.com.au/n/20-fewings-street-clovelly-nsw-2031/myrp-490?propertyId=1863329" target="_blank">20 Fewings Street, Clovelly, NSW, 2031</a>, three-bedroom house, sold at auction on October 2 by Ke3 Property for $1.455 million
7. <a href="https://www.myrp.com.au/n/62-lancaster-road-dover-heights-nsw-2030/myrp-490?propertyId=2120867" target="_blank">62 Lancaster Road, Dover Heights, NSW, 2030</a>, three-bedroom house, sold at auction on October 6 by Laing + Simmons Double Bay for $1.425 million
8. <a href="https://www.myrp.com.au/n/179-wilson-street-newtown-nsw-2042/myrp-490?propertyId=4897135" target="_blank">179 Wilson Street, Newtown, NSW, 2042</a>, three-bedroom house, sold at auction on October 6 by Ray White Surry Hills / Alexandria for $1.36 million
9. <a href="https://www.myrp.com.au/n/64-redmond-street-leichhardt-nsw-2040/myrp-490?propertyId=3676180" target="_blank">64 Redmond Street, Leichhardt, NSW, 2040</a>, three-bedroom house, sold at auction on October 6 by McGrath Estate Agents for $1.262 million
10. <a href="https://www.myrp.com.au/n/38-yeend-street-merrylands-nsw-2160/myrp-490?propertyId=4260191" target="_blank">38 Yeend Street, Merrylands, NSW, 2160</a>, six-bedroom house, sold prior to auction on October 6 by McGrath Estate Agents for $1.25 million 
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No super-prestige results as $2.4 million McMahons Point house takes out top sale of the week: RP Data

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19/44 Fitzroy Street, St Kilda, VIC, 3182
<img src="/images/stories/2012/09/kingsclere.jpg" width="470">
On the second floor of a Fitzroy Street, St Kilda, block, this one-bedroom apartment is currently vacant but could be expected to secure a rental of $360 to $370 per week, according to listing agent Carl Hexter of Biggin Scott. It sold at its weekend auction to an investor for $445,000. There were three registered bidders. The apartment includes a separate study and an ornamental fireplace and is within metres of Fitzroy Street trams, cafes, restaurants and bars.
Hexter gave pre-auction price hopes of $380,000 plus and says the reserve was $410,000. If it is rented at $370, that would secure a gross rental yield at the median gross rental yield for St Kilda units of 4.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property was last rented for about $320 per week, which would provide a gross rental yield of about 3.7%.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The median unit price in St Kilda fell 0.6% in the past year but rose 37.9% in the past five years, according to RP Data.
For more information about prices and yields in <a target="_blank" href="/news">St Kilda, see the RP Data suburb page.</a>
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Investor form guide wrap: Yields of up to 4.3% in St Kilda

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House and unit prices have been on the rise for the past six months while property prices fell in regional Victoria, according to graphs released by the Real Estate Institute of Victoria. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/reivoct9.gif"><img src="/images/stories/2012/10/reivoct9thumb.gif"></a>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/reivoct91.gif"><img src="/images/stories/2012/10/reivoct91thumb.gif"></a>
The charts, part of a REIV presentation at the Melbourne Home Buyer and Property Investor Show, also show that over the past 10 years the median Melbourne house and unit prices have risen in fits and starts, while regional Victoria has shown more steady, even growth. 
For example, house and unit prices in Melbourne show a sharp spike in 2007, whereas growth is more measured across regional Victoria. 
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Regional Victorian property prices have shown long-term mild growth: REIV

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Melbourne landlords who find they are not receiving multiple enquiries every week about their vacant rental properties need to lower their rental expectations, according to Leah Calnan, director of Metro Property Management.
Speaking at yesterday’s Melbourne Home Buyer &amp; Property Investor Show, Calnan described the Melbourne rental market as “a little bit tough” for landlords for the past year.
“If your enquiries are minimal, it’s a price point issue,” Calnan said.
She said Melbourne landlords should not always expect to receive the same rent or more for a property as tenants changed.
“You have to change with the market,” she said.
“It’s much better for you to receive 90% of that $500 a week, for example, than no money at all.”
She also pointed out that prospective tenants searched in price “blocks” – for example, $450-$495, and so landlords could appeal to a broader range of renters by ensuring the rent fell within that block. She said a difference of $5 a week, from $500 to $495, could entice prospective tenants who otherwise would not see the property in internet searches.
In addition to reducing their rental expectations, Calnan suggested landlords offer prospective tenants sweeteners and incentives to make their properties stand out. She suggested a free barbecue, free 12-month Foxtel contract, a Coles/Myer voucher or paying for the cost of removalists in order to entice tenants.
“For you it’s a tax deduction, but it’ll make the property more attractive to tenants,” Calnan said.
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Melbourne landlords might need to lower rent to fill vacant properties: Leah Calnan

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More than two and a half years after marketing began, sales have picked up steam for luxury Gold Coast development Salacia Waters.
Marketing began for the 131-unit, 13-villa project in January 2010, and thus far there have been 33 sales, about two-thirds of those since July this year.
Julian Sutherland of Ray White says buyers on the Gold Coast are coming out of a "post-GFC hibernation".
“Investors and owner-occupiers alike are attracted by the opportunity to pounce on the value presently on offer at Salacia Waters, where apartments are available from $400,000,” he says.
<img src="/images/stories/2012/09/salacia1.jpg">
Sutherland says the $15,000 Queensland first-home owner construction grant, which replaced the $7,000 first-home owner grant in early September following the announcement of the Queensland budget, has helped spark sales at Salacia Waters.
“This value proposition in such a quality waterfront development combined with a lower interest rate environment and the reinstatement of a stamp duty exemption have galvanised buyers to act,” he says.
Other property commentators have also suggested a recent turnaround in the Gold Coast, with SQM Research director saying the market in the area is “showing signs of bottoming out”.
In February this year Christopher said he agreed with comments made by Sunrise presenter David Koch that the Gold Coast property market was "catastrophic".
<img src="/images/stories/2012/09/salacia2.jpg">
Also last week, Midwood Report author Bill Morris pointed out that the amount of high-rise apartment stock on the Gold Coast had halved in the past two years.
“There should no longer be the perception that Gold Coast high-rise apartments are oversupplied,” Morris said.
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Salacia Waters units range in size from 97 square metres to 369 square metres and are priced from $399,000, with luxury villas priced from $740,000.
Sutherland says they should appeal to investors as well as owner-occupiers in the area.
“With the city facing a dwindling supply of apartments, particularly in waterfront locations, investors are well positioned for strong income flows," Sutherland says.
<img src="/images/stories/2012/09/salacia3.jpg">
The first stage of the development was finished in October 2010, but planned future stages were put on hold due to poor sales and the struggling Gold Coast market.
Sutherland says developer Lotte Engineering and Construction is hoping the recent upsurge in buyer activity would enable the developer to continue with further stages.
Salacia Waters is in Paradise Point and surrounded on three sides by water. The development includes a 72-berth marina with deepwater access for keen yachties.
Lifestyle amenities in the building include a gymnasium and several swimming pools.
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After slow marketing start, sales picking up at Salacia Waters as Gold Coast market shows signs of life

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11/15 Eddys Grove, Bentleigh, Victoria 3204
<img src="/images/stories/2012/09/eddys.jpg" width="470">
This two-bedroom, low-maintenance unit is currently tenanted on a month-to-month lease at $295 per week. Buxton agent Heather Steadman says the identical adjacent unit rents for $350 per week, but without some renovation work unit 11 is unlikely to command much more than $295. It is within walking distance of Centre Road shops, cafes and the train station, which is in zone 1. 
Steadman<a target="_blank" href="https://www.buxton.com.au/"> is marketing the property </a>with price hopes of $380,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 4% at its current rent,  above the gross rental yield for Bentleigh units of 3.5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $13,000.
The median unit price in Bentleigh fell 8.6% in the past year but rose 39.5% in the past five years, according to RP Data.
The property will be open for inspection Saturday, October 13 at 10.45am and will go to auction Saturday, October 20 at 12.30pm.
For more information about prices and yields in <a href="/news">Bentleigh, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 4% in Bentleigh

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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/cheapest-of-rp-datas-100-growth-suburbs-grenfell-rising-property-values-would-have-inspired-native-son-henry-lawson/2012100156909"><img src="/images/stories/2012/09/150k.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/cheapest-of-rp-datas-100-growth-suburbs-grenfell-rising-property-values-would-have-inspired-native-son-henry-lawson/2012100156909"> approximate median house price in the NSW regional town of Grenfell</a>, the cheapest entry on RP Data's list of the top 100 growth suburbs. Prices have increased 20% in the past year in the town, which is the place of bush poet Henry Lawson's birth.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888"><img src="/images/stories/2012/09/13percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888">percentage of Australians polled by UMR who supported the sale of Cubbie Station to Chinese investors</a>. Some 63% of Australians are opposed to the sale of the southern Queensland property to overseas interests, with 24% unsure.
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<a target="_blank" href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889"><img src="/images/stories/2012/09/3m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/victoria/woodend-s-mintaro-%E2%80%93-a-mini-government-house-%E2%80%93-listed-with-%243-million-hopes/2012093056889">price hopes for Mintaro</a>, the 1882 Monegeetta, Sunbury district mansion. It's a smaller replica of Melbourne's Government House, which was built by a Captain Robert Gardiner to a design by architect James Gall. The 9.9-hectare estate is an executor's sale, which will conclude 78 years of family ownership by the Rae family.
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<a target="_blank" href="/news"><img src="/images/stories/2012/09/53percent.gif"></a>
The <a target="_blank" href="/news">percentage of Australian households who have no income left at the end of the month</a> once they have paid their mortgage and other bills, according to ME Bank. The report found that 43% of households break even and 10% spend more than they earn by drawing on savings, loans, credit or equity in their homes.
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<a target="_blank" href="/news"><img src="/images/stories/2012/09/3point25percent.gif"></a>
The<a target="_blank" href="/news"> current cash rate, after the RBA cut rates on Tuesday</a> by 25 basis points. This is the lowest the cash rate has been since October 2009.
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/surprise-14-rise-in-capital-city-dwelling-values-highest-in-30-months-but-moderate-growth-ahead-rp-data-rismark/2012100256920"><img src="/images/stories/2012/09/1point4percent.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/residential/surprise-14-rise-in-capital-city-dwelling-values-highest-in-30-months-but-moderate-growth-ahead-rp-data-rismark/2012100256920"> increase in house prices in September across Australia</a>, according to RP Data. The result was the largest month-on-month rise recorded since March 2010 and means that capital city dwelling values are now 0.8% higher over the first nine months of 2012, with a median dwelling price of $450,500.
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<a target="_blank" href="/news"><img src="/images/stories/2012/09/4point5mplus.gif"></a>
The <a target="_blank" href="/news">price hopes for the Princeton, Double Bay penthouse</a> of the late interior design doyen Leslie Walford. The interiors showcase the tastes of Walford, who retired just five years ago after an international career spanning five decades.
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The 7 must-know numbers of the week, starting with the median house price in Henry Lawson's home town

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Cassidy Knowlton

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